This week, the Blackstone Group LP (NYSE: BX) announced its Q4 results. It was no surprise that there was plunge in profits (down 89%).
The company's chairman, Stephen Schwarzman, said that "Down cycles are not fun, but they form the basis for enormous future profitability at Blackstone."
Well, today Blackstone released its 10-K report and yes, there's a section on his compensation.
Adding things up, Schwarzman pulled down a cool $350.2 million last year from cash distributions. Also, keep in mind that he netted $684 million from Blackstone's initial public offering (he still has a $3.97 billion equity stake).
Oh, and Schwarzman gets an annual salary of $350,000.
Somehow, this seems fun to me.
Tom Taulli is the author of various books, including The Complete M&A Handbook
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